Russia ditches dollar and to trade with Europe in Euro

[AZADPAKISTAN2009]

He called PM of Canada a Snow Mexican !! hmm and then called him a surfer PM
Canada might just buy Gold to be on safe side

 

[TheBlackCoat]

Not true, the Yuan is not on a currency peg but rather a "managed float". It is allowed to float within a certain band every day.

Check the currency charts, the Yuan has appreciated against the Dollar over the past year. Which would not be possible on a currency peg.

That is just to negate President Trump's statements naming China of playing the currency devaluation game.

 

[Chinese-Dragon]

That is just to negate President Trump's statements naming China of playing the currency devaluation game.

What are you talking about?

The Yuan is not pegged to the Dollar. There are many currencies that are pegged to the Dollar, check the currency charts, it appears as a straight line. Because a peg is a fixed exchange rate.

China's currency is on a managed float, you can check the charts for yourself and see how it moves against the Dollar.

 

[AZADPAKISTAN2009]

Germany won't buy Dollar if it crashes

 

[Hamartia Antidote]

https://www.rt.com/business/427654-russia-euro-payments-trade/

Settlements in US currency could be dropped by Russia in favor of the euro if the EU takes a stand against the latest US sanctions on Moscow, Finance Minister Anton Siluanov said at the St. Petersburg International Economic Forum.
“As we see, restrictions imposed by the American partners are of an extraterritorial nature. The possibility of switching from the US dollar to the euro in settlements depends on Europe’s stance toward Washington’s position,” said Siluanov, who is also Russia’s first deputy prime minister.

The EU initially supported Washington’s sanctions against Moscow, but has recently criticized US President Donald Trump’s policy of imposing trade restrictions on other countries. The EU was also hit by the introduction of US import duties on steel and aluminum. The situation escalated even more after the US withdrew from the nuclear deal with Iran.

???? Why is the EU and Russia using dollars to begin with? Do they not like the Euro? Is the Euro only for show?

 

[Ajaxpaul]

If dumping US dollar is the way to go then Russia and China would have done that already. I don't think its easy to wean yourself from the dollar.

 

[Hamartia Antidote]

He called PM of Canada a Snow Mexican !! hmm and then called him a surfer PM
Canada might just buy Gold to be on safe side

LOL! You are a fake news spreader

https://www.snopes.com/fact-check/donald-trump-called-canadians-snow-mexicans/

 

[jhungary]

The US dollar strength is never on Trade and Oil, it's on the Balance of Payment.

6 trillions of US dollars was sent thru SWIFT a day, compare to 12 trillions a year worth of trade world wide and about 3 trillions of petrol dollars.

Russia trading with EU with Euro would actually make more demand on USD than otherwise, because the demand of EU would sore and EU have to balance their reserve with buying more USD.